Model HVDC and FACTS in Grid and Market Operations

This panel will focus on the HVDC and Flexible AC Transmission Systems (FACTS) system impacts, and present the latest modeling progress in market and grid operations. FACTS and HVDC increase operational flexibility, system reliability and electricity market efficiency. The latest HVDC technology also provides the backbone for large-scale renewable integration, such as offshore wind in Europe, etc. To unlock the full potential benefits of HVDC and FACTS, it is necessary to have advanced modeling and analysis tools to assist system and market operators. The tools (applications) need to properly capture physical and operational characteristics of these smart systems and also their interactions with other devices in the grid, under a variety of actual and simulated operating conditions.